At this year’s BIO International Convention in San Diego (June 19 – 22), I moderated a session, Navigating A Clear Path To Public-Private Partnerships, and we talked about the good, the bad, and the ugly of P3s. After a brief introduction, the first question was posed, resulting in the following edited dialogue.
CLOSE TO ZERO.
That’s the probability of one company or researcher successfully finding cures for the likes of ALS, Alzheimer’s, or any of the other horrible diseases that continue to ravage humanity. To develop therapeutics of the future will most likely require the launch of a number of P3s (public-private partnerships) — today. But just getting a cadre of participants even interested in participating in a P3 can be a challenge, not to mention the process of launching and managing a P3 all the way through to conclusion. For example, the $230 million Accelerating Medicines Partnership (AMP) that was launched in 2014 involves two government organizations, 10 biopharmaceutical companies, and a dozen nonprofits. And while P3s are intended to be part of the solution, if not properly managed they could become part of the problem. How does one prevent such a scenario?